Page 12 - Economic Recovery

Sitharaman expands credit relief, unveils new Covid-19 recovery package

Expanded credit guarantee program includes Rs 50,000 crore for the health sector; additional spending to focus on children.

Economic revival: FM Sitharaman raises ECLGS scheme limit to Rs 4.5 trn

FM announces Rs 1.1 trillion loan guarantee scheme for Covid-affected sectors

Oil steadies near three-year highs on recovery signs

NEW YORK (Reuters) -Oil prices steadied on Thursday, holding close to their highest levels in almost three years, supported by drawdowns in U.S. inventories and accelerating German economic activity.

Household balance sheet

Lower consumption at the bottom of the pyramid will affect growth

People saving less, household savings moderate in third quarter FY21

The ratio of household (bank) deposits to GDP also declined to 3.0 per cent in the October -December quarter of FY21 from 7.7 per cent in the previous quarter.

Euro zone business growth at 15-year high as demand unleashed -PMI

When the coronavirus was spreading rapidly, governments imposed strict restrictions, encouraging citizens to stay at home and forcing much of the service industry to close.

Bank of Japan policymakers saw prospects of quicker recovery in April

Bank of Japan board members voiced hope in April that the massive stimulus deployed by nations will quicken Japan's economic recovery, with domestic consumption potentially providing a tailwind

Fed will not raise rates on inflation fears alone, says Jerome Powell

Fed will watch broad set of labor market data, says Powell

Supply chain ramped, adding alternate sources: HUL is prepared for 3rd wave

The firm has expanded its supply chain capacity by 30 per cent

Reforms by conviction and incentives, says PM Modi in blog post

PM Modi stated that the 15th Finance Commission and several academics have emphasised the crucial importance of sound property taxation.

UK government borrowing falls as economic recovery boosts tax revenues

British public borrowing fell in May from sky-high levels of a year earlier when the government was ramping up a huge spending response to the coronavirus crisis

Caution on inflation

RBI's primary mandate should remain inflation targeting

Repo rate expected to remain unchanged in fiscal 2022: Emkay Global

Reserve Bank of India's repo rate is expected to remain unchanged during FY22, said Emkay Global in a report.

North Korean leader Kim Jong Un swears to overcome economic hardships

North Korean leader Kim Jong Un concluded a major ruling party meeting, acknowledging food shortages and urging officials to prepare for both dialogue and confrontation with the US

EU endorses Greek recovery plan to 'supercharge investment and growth'

The economic recovery plan of Greece which will "supercharge investment, reform and growth throughout the country" has been endorsed by the European Union (EU)

Best of BS Opinion: The search for news media, economic recovery & more

Here are the best of Business Standard's opinion pieces for Friday

Some bright spots

There are still a number of risks to durable economic recovery

CII pitches for Rs 3 trillion fiscal stimulus to push economic growth

CII President T V Narendran also said the chamber expects GDP to grow at 9.5 per cent in 2021-22

Confederation of Indian Industry projects FY22 GDP growth at 9.5%

Rising medical expenditure has squeezed incomes and demand. But recovery is on the cards. Global growth and macroeconomic stability will support trade and investment flows.

US economy well on way to robust post-Covid recovery: Janet Yellen

Yellen said in testimony she's scheduled to deliver before the Senate Finance Committee that she came into her job in January hoping to help Americans "make it to the other side of the crisis."